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Most tokens are used with decentralised applications (dApps). When developers create their tokens, they can be used to activate features of the application they were designed for.
Some tokens are created to represent a physical thing. If you want to sell your house using a smart contract, you can't physically put your house into the smart contract, but you can use a token that represents your house.
For example, WePower (WPR) uses a token that represents electricity. Users can buy and sell electricity on the blockchain using smart contracts.
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A digital coin is an asset native to its own blockchain. For example, Bitcoin exists on the Bitcoin blockchain, Ether operates and functions on the Ethereum blockchain, etc.
Digital coins are generally used the same way as real-life money in your wallet. For example, Bitcoin can be used to pay for goods and services all over the internet and often in real-world places too. You can store it for a long time or swap it for something of equal value.
Tokens are used to interact with decentralised applications that are built on top of different blockchains.
Token are not digital coins. Tokens are created on existing blockchains. The most common blockchain token platform is Ethereum and tokens from this platform are known as ERC-20 tokens.
Creating a token takes little technical ability, but it requires the developer to spend some native coins to the blockchain on which the token is being created.
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When I retire will this be how financing property will be done? Part B of retirement? Financing property with my crypto?
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